Unless your dad or you know for sure (have notification) that the tractor has a legal lien (either by bank or it's listed in a bankruptcy equipment list as an asset) then your dad still owns the tractor. Buy the tractor from your dad for a fair price and get a bill of sale from him. Document the condition of the tractor - photos etc. before moving it or fixing it. Then it's yours and you've acted in good faith.
You can have your dad hold the money in trust if you're still concerned.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
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